Can I deduct the weekly amount I pay for my company's insurance for my wife and I, along with other medical and dental costs, from my taxes for the year 2018?

January 2nd, 2023

Does TurboTax Premier understand how to handle a dual entity LLC & C-corp tax preparation where the C-corp owns 2% of the LLC and handles the financial end of the LLC?

July 20th, 2023

Our church in Crittenden County, Arkansas, is being asked to report a Commercial Property Rendition Form, even though churches are exempt from being assessed according to ACA 26-3-201. We are concerned about potential financial penalties if we don't comply. What should we do?

December 12th, 2024

I owe back taxes for 2008 and 2009. I have already paid some amounts, but I received letters from the IRS asking for more. I don't have the money to pay this additional amount and I'm considering borrowing money to pay a gift to my granddaughters instead. Would this be considered a gift tax? Can the IRS forgive penalties and interest?

July 6th, 2024

I withdrew an IRA from Fidelity in mid Dec 2018. This was intended to be used as a payout in a divorce, but it has not been used yet. I've heard that I can put it back into an IRA within 60 days. Will I still be penalized for taking it out before 59 1/2 years old, and will I still need to pay income tax on it? If so, is there anything I can do to mitigate these taxes?

April 30th, 2024